12 January 2011 23:59 [Source: ICIS news]
LONDON (ICIS)--European first-quarter glycerine contracts have rolled over as a result of subdued demand and stable supply, sources said on Wednesday.
The majority of first-quarter contracts for vegetable-grade glycerine remain unchanged from the fourth quarter at €490-520/tonne ($636-675/tonne) FD (free delivered) NWE (northwest Europe) and £430-455/tonne (€516-546/tonne) FD UK.
First-quarter contracts for tallow-grade glycerine contracts also remained unchanged, in a range of €460-480/tonne FD NWE and £400-420/tonne FD UK.
Most market participants said they had expected prices to increase because feedstock prices were higher and there was strong demand from Asia.
Demand in Europe had been quiet, as participants were absent due to the end-of-the-year holidays.
Requests for material from markets in Asia had also decreased because of high prices and the onset of the festive season, which put less strain on the European market.
($1 = €0.77, £1 = €1.20)
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections